Form 4: Packaging Corporation of America: Executive Receives Stock Award and Disposes of Shares for Tax Obligations

Kent A. Pflederer, SVP at Packaging Corporation of America, received shares from a performance unit payout and disposed of shares to cover withholding tax obligations.

Summary

• On March 25, 2024, Kent A. Pflederer, a Senior Vice President at Packaging Corporation of America (PKG), acquired 4,335 shares of common stock due to a payout of total stockholder return performance units awarded in 2021, including dividend equivalents.
• The price per share for this acquisition was $0.00.
• On the same day, Pflederer disposed of 1,922 shares of common stock at a price of $187.31 per share to cover withholding tax obligations related to the payout.
• Following these transactions, Pflederer directly owns 59,953 shares of PKG common stock and indirectly owns 4,045 shares through a 401(k) plan.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the filing reflects routine transactions related to executive compensation and tax obligations. There is no indication of significant positive or negative sentiment.

Positives

• The acquisition of shares indicates a payout related to the company's performance, which could be viewed positively.

Negatives

• The disposal of shares to cover tax obligations, while standard, represents a reduction in the executive's directly held shares.

Industry Context

Form 4 filings are routine disclosures required by the SEC to ensure transparency in insider trading activities. They provide insights into the actions of company executives and their confidence in the company's prospects.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, as they are related to executive compensation and tax obligations.

Key Dates